In the current market situation, it is difficult to determine the unambiguous direction in which the BTC course will follow. The latest report by Juniper Research presents a variant of the “implosion” of the market. Is the end of bitcoin possible then? Bloomberg informed about the details on October 9.
In the report entitled “The future of cryptocurrencies: Bitcoin & Altcoins – trends and challenges for 2018-2023” Juniper focused on the problems that the cryptocurrency market will encounter in the coming years. Technical problems of currencies, related to adoption in society and regulations, as well as hacking attacks on exchanges were stressed.
Juniper emphasizes what we see everyone – daily volumes of bitcoin transactions have dropped significantly. About $ 360,000 per day (last quarter of 2017) to 230,000 in September 2018.
“Based on the activity of [investors] in the first half of the third quarter, Juniper estimates that this quarter the value of transactions fell by a further 47% on a quarterly basis […] In short, given our concerns about both bitcoin valuation and practice operating on many exchanges, we believe that the industry is on the edge of implosion. ”
Juniper research is not the only report of this type. In its report, Diar notes that in the third quarter of 2018, the Coinbase exchange saw its lowest turnover since last year.
Miners are also struggling with problems, who currently record small profits. Mining crypto-currencies remains a viable activity, but slowly only for large mines, not small ones, domestic ones. The reason is the low market prices of digital currencies, but also the rising fees for electricity. According to estimates by Diar “home” miners, paying retail electricity prices, could for the first time in September this year be able to contribute to their interest.
So what will be the future of the main cryptocurrency? Technical analysis of the BTC course can be followed on our website. However, they give only part of the answer. Most observers look at the market, however, in an optimistic way. Spencer Bogart, an expert on digital currency and Blockchain Capital, said that the price of Bitcoin ALWAYS found its lowest level in the chart. Similarly, Mike Novogratz or CZ, CEO Binance. Another sentence is Vitalik Buterin from Ethereum, which thinks that we can say goodbye to the next bubbles.
What is your opinion?